Ashoka Buildcon Limited · NSE:ASHOKA
Ashoka Buildcon — Q3 FY2011 Earnings Presentation
20 slides from Ashoka Buildcon's earnings presentation, February 2011
Slide 1: Q3 FY2011 Analyst Presentation
Q3 FY2011 Analyst Presentation February 2011
Slide 2: Agenda
Agenda 1 Financial Highlights 2 Business Overview 3 Project Portfolio Ashoka Buildcon Limited 2
Slide 3: Financial Highlights
1 Financial Highlights Ashoka Buildcon Limited 3
Slide 4: Quarterly Financial Highlights SFS
Quarterly Financial Highlights SFS Rs. Mn. Q3 FY 2010 Q3 FY 2009 Construction BOT Total Construction BOT Total Revenue 2991.42 103.08 3,094.50 2605.20 115.94 2721.14 EBITDA 418.06 62.26 480.32 314.03 98.82 412.85 EBITDA margin 13.98% 60.40% 15.52% 12.05% 85.23% 15.17% Interest 65.48 16.38 81.86 42.7
Slide 5: Quarterly Financial Highlights CFS
Quarterly Financial Highlights CFS Rs. Mn. Q3 FY 2010 Q3 FY 2009 Construction BOT Total Construction BOT Total Revenue 1,923.8 552.1 2,475.9 1,601.8 432.3 2,034.1 EBITDA 344.2 332.2 676.4 206.3 365.2 571.5 EBITDA margin 17.9% 60.2% 27.3% 12.9% 84.5% 28.1% Interest 12.4 147.6 160.0 8.3 96.3 104.6 Dep
Slide 6: Year-to-date Financial Highlights SFS
Year-to-date Financial Highlights SFS Rs. Mn. 9 M FY 2010 9 M FY 2009 Construction BOT Total Construction BOT Total Revenue 7827.58 328.43 8,156.01 7286.79 336.80 7623.59 EBITDA 986.08 264.22 1,250.30 826.83 301.79 1128.62 EBITDA margin 12.60% 80.45% 15.33% 11.35% 89.61% 14.80% Interest 195.22 64.84
Slide 7: Year-to-date Financial Highlights CFS
Year-to-date Financial Highlights CFS Rs. Mn. 9 M FY 2010 9 M FY 2009 Construction BOT Total Construction BOT Total Revenue 5,794.40 1,425.10 7,219.50 4,093.06 1,272.50 5,365.56 EBITDA 824.62 1,134.25 1,958.86 522.42 1,105.01 1,627.43 EBITDA margin 14.23% 79.59% 27.13% 12.76% 86.84% 30.33% Interest
Slide 8: Business Overview
2 Business Overview Ashoka Buildcon Limited 8
Slide 9: Evolution of the Company
Evolution of the Company •FC achieved for NH-4 project. •Debt tied up for NH-6 Project. •H1 in NHAI BOT project in Kharagpur ` 13960 IIF picks up stake in both the NH-6 SPVs 2010 First Power Distribution EPC 2011 Together with L&T, won the NH-3 project worth 2 large NHAI BOT ` 16,910 Mn Projec
Slide 10: Company Overview
Company Overview Well established player in toll based BOT roads & bridges in India 26 projects ->18 operational / 5 under-construction & Development / 3 handed back Integrated business model In-house traffic expertise, EPC, RMC, Toll Collection and O&M Experienced Management and a well-trained
Slide 11: Business Overview
Business Overview BOT Business Early mover in the sector First project ` 58 Mn > Latest project ` 9,090 Mn 3,498 lane kms spread across 5 states - Maharashtra, Madhya Pradesh, Chhattisgarh, Karnataka and Orissa Seen the full life cycle of a project 18 operational / 5 under-construction & Developme
Slide 12: Integrated Business Model
Integrated Business Model Design & Engineering (in-house design team ensures quality) Traffic Estimation 1 3 In-house Construction (In-depth knowledge, 2 (majority of the projects database built since 1998) completed within time) Full Value Captured in a BOT Project 6 5 4 Re-leveraging Toll Collecti
Slide 13: Business Strategy
Business Strategy Executing larger BOT 1997 - Dhule Bypass ~ ` 58 Mn 2010 – Sambalpur Project ~ ` 11,460 Mn projects Leverage traffic data from existing projects to bid for future BOT projects Continue to leverage BOT projects once 15 out of 20 projects have been refinanced to the extent of 150% o
Slide 14: Project Portfolio
3 Project Portfolio Ashoka Buildcon Limited 14
Slide 15: Operational Road Projects
Operational Road Projects Name of the Indore Edlabad Dewas Bye Pass Katni Bye Pass Bhandara Pune Shirur Project State Madhya Pradesh Madhya Pradesh Madhya Pradesh Maharashtra Maharashtra Client MPRDC PWD PWD NHAI PWD Length 406.60 39.60 35.20 376.80 216.00 (Lane kms) Project Cost 1652.88 613.22 708.
Slide 16: Operational Road Projects
Operational Road Projects Name of the Project Nagar Aurangabad Nagar Karmala Wainganga Nashirabad State Maharashtra Maharashtra Maharashtra Maharashtra Client PWD PWD MORTH MORTH Length 168 160 26 8 (Lane kms) Project Cost 1026.64 503.51 408.69 146.97 Rs. Mn. Debt Outstanding as 427.95 Nil 393.69 Ni
Slide 17: Operational Road Projects
Operational Road Projects Name of the Project Dhule Bye Pass Sherinala Pandharpur Bye Pass State Maharashtra Maharashtra Maharashtra Client PWD PWD PWD Length 11.80 7 22 (Lane kms) Project Cost 58.17 142.22 73.50 ` Mn. Debt Outstanding as on Nil Nil 51.33 December, 2010 Signing Date 28th Aug 1997 23
Slide 18: Projects Under Implementation
Projects Under Implementation Name of the Project Sambhalpur Belgaum Dharwad Pimpalgaon – Durg 4 - Laning of Baraghar Nasik – Gonde Jaora - Nayagaon State Orissa Karnataka Maharashtra Chhattisgarh Madhya Pradesh Client NHAI NHAI NHAI NHAI MPRDC Length 407.600 454.050 451.860 368.200 340.240 (Lane km
Slide 19: Toll collection by project
Projects Under Implementation Yearly Nine Months Name of the Project 2008-09 2009-10 % Rise 2009-10 2010-11 % Rise Indore –Edalabad Project 451.98 511.99 13.28% 380.52 428.52 12.62% Ahmednagar - Aurangabad Road 124.46 143.97 15.67% 109.07 124.28 13.94% Dewas By Pass Project 118.54 166.43 40.40% 122.
Slide 20: Thank You
Thank You Ashoka Buildcon Limited 20